IRS Issues Final ‘May Co.’ Partnership Rules; Changes May Follow - McDermott Will & Emery

IRS Issues Final ‘May Co.’ Partnership Rules; Changes May Follow

Overview


David Sherwood said that the changes in the Internal Revenue Service’s (IRS’s) final regulations preventing corporate partners from avoiding corporate-level gain through transactions with partnerships are “pretty minor.” He noted, however, that the IRS is “considering issuing new proposed regs to make more significant changes going forward.”